Morgan Stanley CEO Gorman takes aim at quarterly reporting

Morgan Stanley Chairman and Chief Executive James Gorman speaks during the Institute of International Finance Annual Meeting in Washington October 10, 2014. REUTERS/Joshua Roberts

“Why wouldn’t that power and information in an organization go into what’s best for clients rather than having to report again in another nine weeks?” Gorman said on Tuesday at a conference hosted by Bloomberg L.P. in New York.

“This is one thing the Brits definitely have figured out with six-month reporting,” he added, referring to a recent move to eliminate quarterly reporting requirements in the United Kingdom.